Super Micro price target lowered to $32 from $50 at Rosenblatt

Rosenblatt lowered the firm’s price target on Super Micro (SMCI) to $32 from $50 and keeps a Buy rating on the shares. The firm says the controversy around Super Micro’s board member Yih-Shyan Liam along with the U.S. Attorney’s indictment alleging export-controls violations “put a dark cloud over what would have been an exciting product announcement.” The analyst views the company’s technology capabilities as “among the world leaders.: In addition, Super Micro’s order backlog is “sound” and Rosenblatt is not expecting changes in estimates due to the indictments of employees, contends the analyst. However, it expects the shares to be under pressure until the investigation has been completed.